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HomeFinancial CodeDiv. 7Ch. 3Art. 1§ 18190 Industrial Loan Company Powers

§ 18190 Industrial Loan Company Powers

Financial Code·California
AI Summary·Official Text·Key Terms·Related Statutes·References
AI SummaryVerified

§ 18190 Industrial Loan Company Powers

This law says what special banks called 'industrial loan companies' can do with money, like giving loans or buying/selling certain types of debt.

Key Takeaways

  • •These companies can give loans with or without collateral (like a car or house).
  • •They can charge fees for loans upfront or later.
  • •They can buy and sell certain types of debt, like contracts where people agree to pay later.

Example

You need a loan to buy a car, but regular banks won't help.

An industrial loan company can lend you the money, even if you don't have perfect credit. They can also charge fees for the loan.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source
View on CA.gov

§ 18190 Industrial Loan Company Powers

An industrial loan company may: (a) Loan money, secured or unsecured, with or without the pledge of its installment investment certificates. (b) Collect and receive charges for loans in advance or otherwise. (c) Purchase, sell, or discount the following obligations: bona fide trust receipts, secured or unsecured choses in action, conditional sales contracts, or security agreements. (d) Purchase, sell, discount, or originate lease obligations. (Amended by Stats. 1998, Ch. 827, Sec. 10. Effective January 1, 1999.)

Last verified: January 11, 2026

Key Terms

industrial loan companyloan moneysecured or unsecuredtrust receiptsconditional sales contractslease obligations

Related Statutes

  • § 14200 Credit Union Oversight Powers
  • § 14200.1 Credit Union Oversight Office
  • § 14200.2 Credit Union Deputy Commissioner
  • § 14201 Commissioner Rulemaking Authority
  • § 14202 Credit Union Activity Authorization

References

  • Official text at leginfo.legislature.ca.gov
  • California Legislature. Financial Code. Section 18190.
View Official Source